5 Tips for Selling Your Million Dollar Home Fast
It can’t have escaped your notice that this isn’t exactly a seller’s market, especially when it comes to million dollar listings. Although the housing market seems to be stabilizing and perhaps even improving, you still might spend months trying to sell your million dollar home if you don’t have a solid strategy in place to unload it quickly. It starts with an understanding that you’re catering to a particular clientele, one that expects a home in your range to conform to certain standards. But from there you must find ways to target the buyers you seek, as well as convince them that your property is a better choice than competitors on the market. And here are just a few tips that should help you to meet your timetable when you want to sell fast.
- Hire a home inspector. First you must attend to the prep work needed to get your property ready to put on the market, and the place to begin is with a home inspection. Before any lender will front a buyer the money to purchase your home, they’ll require a thorough inspection to set the value, so prevent any unpleasant surprises by doing the job yourself. A professional inspector can point out any glaring problems with your property, giving you the chance to attend to them before you allow any prospective buyers in the door.
- Spruce the place up. In addition to fixing major issues that could tank your home sale, it’s important to consider the overall aesthetic of the home, which means clearing out the clutter, deep cleaning every room, and adding a few new touches (paint, carpeting, etc.) to give buyers the impression that the space they’re entering is a blank canvas for their lives. You also need to be careful with staging so that the house looks neat and attractive, but generic (no family photos or tchotchkes). And don’t forget about curb appeal. First impressions are important, so a manicured lawn, appropriate landscaping, and a pleasing faÃ§ade are a must.
- Check out the competition. In order to attract interested buyers, your home needs to stand out from others on the market. The best way to accomplish this is to look at other listings. Does your home feature attractive amenities that others lack, such as a swimming pool, a granny flat, or energy-saving solar panels? You should definitely make sure to include unique selling points in your listing as a way to get an edge over other sellers with homes in a similar size and price range. And if you need to pare down your list, think about what the average homeowner is most likely to respond to. Knowing your strengths and using them to your advantage is a great way to move your property faster.
- Price competitively. You obviously want to get a certain amount of value from your home, but there’s nothing worse than having your house on the market for weeks and dropping the price; people will wonder what’s wrong with it. If you go with the low end of your range initially you’ll get more interest (especially with overpriced neighbors), which could increase your odds of a quick sale or even a bidding war.
- Hire a good agent. Whether you ask your friends for trusted referrals, get a name off a bus bench, or go with Movoto real estate agents (or another MLS listing service), it’s important to find an agent that is familiar with your area and your type of home, not to mention one who has a proven track record of speedy sales. This could be the lynchpin in your strategy to move your million dollar listing.